News
JP Morgan hires London MD
LONDON – JP Morgan has hired Andrew Simon as managing director and head of global clients in its global currency and commodities group. He joins from Lehman Brothers, where he was a managing director and head of FX derivatives marketing. He also has…
Saxo extends currency offering
COPENHAGEN – Foreign exchange specialist Saxo Bank is set to introduce the new Turkish lira (TRY) onto its platform from next week, in an effort to meet increased demand for trading in the currency.
More expansion at BoA
NEW YORK – Bank of America (BoA) is continuing the unrelenting build-up of its FX team with a series of hires in strategy and an additional prop trader.
US banks boosted by foreign exchange
NEW YORK – US banks have posted a strong Q2 for FX in recent weeks.
Renminbi takes first step
BEIJING – Banks are predicting further significant appreciation in the renminbi following the long-awaited shift in the currency announced last Thursday.
Summit scores another in Taiwan
TAIPEI – Taiwanese Far Eastern International Bank (FEIB) has signed Summit Systems, Misys Banking Systems' treasury and capital markets solution, for its STP.
Five go to GFI in Singapore
SINGAPORE – A five-strong regional FX options team at Tullett Prebon has jumped ship to GFI in Singapore amid further reorganisation at the newly merged entity.
Industry resilient to shocks
NEW YORK – The new dynamics of the foreign exchange industry has meant that the industry is better equipped to react to major disruption in the market.
Hotspot FX expands coverage
NEW YORK – Electronic currency network Hotspot FX has added five new currency pairs to cater for a growing client base in the Asia-Pacific time zone.
Italian sales staff in fashion
MILAN AND LONDON - Deutsche Bank's recent high turnover of staff has continued with a new hire in Milan and a departure in London.
CBA makes changes to Sydney strategy team
SYDNEY AND LONDON – Commonwealth Bank of Australia (CBA) has continued to ring the changes on its research team with a new addition in Sydney and an internal transfer from New Zealand to London.
More volatility for Slovakian unit
BRATISLAVA – The Slovakian koruna is likely to see continued volatility in coming weeks as international banks continue to move in and out of the market, according to traders.
Standard Chartered continues growth in Asia
SINGAPORE & HONG KONG – Standard Chartered is continuing to build its FX derivatives presence in Asia with two more hires.
Banking relationships remain key
Banking relationships will remain important despite the fact that costs are coming down and there are ever more channels from which clients can choose.
Hedge fund jump for DrKW capital markets head
LONDON – Achilles Macris, former global head of capital markets at German investment bank Dresdner Kleinwort Wasserstein (DrKW), has joined hedge fund manager Cardinal Asset Management as a partner.
Stiff competition for multi-bank portals
NEW YORK – Multi-bank portals will find it hard to compete in a market where there is increasing competition for buy-side clients.
JP Morgan signs fund customer to Reuters
NEW YORK – JP Morgan became the first bank last week to go live with fund customers for Reuters' buy-side initiative Reuters Trading for Foreign Exchange (RTFX).
FXDD launches 'PowerTrader'
NEW YORK – Online trading provider FXDirectDealer (FXDD) has launched an institutional forex trading platform.